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Goodwill and Intangibles
9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangibles GOODWILL AND INTANGIBLES
We anticipate that the COVID-19 pandemic could continue to have an impact on the homebuilding industry in general, as it could result in further business interruptions (government-mandated or otherwise) and could affect, among other factors, employment levels, consumer spending and consumer confidence, which could decrease demand for homes, adversely affecting our business. As such, we considered whether impairment indicators arose through the date of filing of this Quarterly Report on Form 10-Q for our goodwill, long-lived assets and other intangible assets and concluded that no such factors existed to cause us to test for goodwill impairment during the nine months ended September 30, 2021. While we ultimately concluded that our goodwill, long-lived assets and other intangibles assets were not impaired as of September 30, 2021, we will continue to assess impairment indicators related to the impact of the COVID-19 pandemic on our business.

Goodwill

The change in carrying amount of goodwill was as follows (in thousands):
 Goodwill
(Gross)
Accumulated
Impairment
Losses
Goodwill
(Net)
January 1, 2021$286,874 $(70,004)$216,870 
Business Combinations40,206 — 40,206 
Other30 — 30 
September 30, 2021$327,110 $(70,004)$257,106 

Other changes included in the above table primarily include minor adjustments for the purchase price allocation of certain acquisitions still under measurement. For additional information regarding changes to goodwill resulting from acquisitions, see Note 16, Business Combinations.

We test goodwill for impairment annually during the fourth quarter of our fiscal year or earlier if there is an impairment indicator. Accumulated impairment losses included within the above table were incurred over multiple periods, with the latest impairment charge being recorded during the year ended December 31, 2010.

Intangibles, net

The following table provides the gross carrying amount, accumulated amortization and net book value for each major class of intangibles (in thousands):
 As of September 30,As of December 31,
 20212020
 Gross
Carrying
Amount
Accumulated
Amortization
Net
Book
Value
Gross
Carrying
Amount
Accumulated
Amortization
Net
Book
Value
Amortized intangibles:      
Customer relationships$240,756 $106,997 $133,759 $197,641 $89,137 $108,504 
Covenants not-to-compete24,973 15,628 9,345 20,309 13,436 6,873 
Trademarks and tradenames89,804 31,164 58,640 79,657 27,245 52,412 
Backlog20,425 18,069 2,356 18,847 15,243 3,604 
 $375,958 $171,858 $204,100 $316,454 $145,061 $171,393 
The gross carrying amount of intangibles increased approximately $59.5 million during the nine months ended September 30, 2021 primarily due to business combinations. For more information, see Note 16, Business Combinations. Remaining estimated aggregate annual amortization expense is as follows (amounts, in thousands, are for the fiscal year ended):

Remainder of 2021$9,509 
202234,971 
202330,650 
202427,136 
202521,731 
Thereafter80,103